Gold prices remained in a holding pattern on Tuesday, with investors eagerly anticipating U.S. inflation data to gauge the outlook for interest rates, especially after the Federal Reserve left room for potential policy tightening. As of 0510 GMT, spot gold traded flat at $1,921.25 per ounce, while U.S. gold futures saw a 0.2% decline to $1,944.30. Market...
On Tuesday, the price of gold remained relatively stable at around $1,920 per ounce as investors adopted a cautious stance in anticipation of crucial U.S. inflation reports that could impact the future trajectory of interest rates. The upcoming U.S. consumer inflation report is scheduled for release on Wednesday, followed by the producer inflation report on...
Gold prices had a solid start to the week on Monday, finding support in a weakening dollar. This gain came as investors eagerly anticipated the release of U.S. inflation data later in the week, which would provide insights into the Federal Reserve's future interest rate decisions. - The price of spot gold inched up by 0.1% to reach $1,919.52 per ounce as of 0105...
The British pound has stabilized at a base of $1.25, but remains near three-month lows as investors prepare for the release of a range of economic data, including the UK's monthly GDP and employment figures. . At the same time, there is a sense of caution surrounding next week's political conferences in the UK and US. Last week, Bank of England Governor Andrew...
* Wednesday's release of the U.S. Consumer Price Index (CPI) for August is highly anticipated, as it is poised to influence the Federal Reserve's interest rate choices in the upcoming months. * In preparation for their policy-setting meeting this month, Federal Reserve policymakers have been explicit on two fronts: They are not eager to raise interest rates, yet...
Gold prices have climbed in early Asian trading, buoyed by China's continued accumulation of the precious metal in its reserves. ANZ analysts note the robust central bank purchasing trend, highlighting China's consistent additions to its gold reserves for the tenth consecutive month. Official data released on Thursday revealed that China's gold reserves increased...
Gold held firm above the $1,920 per ounce mark on Friday, but it remained on course to conclude the week with losses, largely attributed to the latest data indicating a robust U.S. economy. This economic strength provides the Federal Reserve with room to maintain a stringent monetary policy stance or potentially increase interest rates. In the last week of...
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"Gold prices remain under pressure, with potential for further decline as traders factor in U.S. economic data and evolving expectations regarding U.S. monetary policy," stated Bas Kooijman, CEO of DHF Capital, in a recent email commentary. Gold futures settled at their lowest point since August 25th on Thursday. The decline continued from Wednesday, as strong...
"Gold Faces Increased Selling Pressure as Strong U.S. Economic Data Spurs Expectations of Prolonged Higher Interest Rates," according to Lukman Otunuga, Manager of Market Analysis at FXTM, as the U.S. ISM business conditions barometer for service companies climbed to 54.5% in August from 52.7%, marking the eighth consecutive reading above the 50% expansion...
In the early Asian trading session, gold remains stable, having pulled back overnight due to the increase in U.S. Treasury yields. Bond yields, which move in the opposite direction of both bond prices and precious metals, exerted downward pressure on gold. Furthermore, the release of fresh data overnight indicating a strengthening U.S. economy has heightened...
Interactive Investor's head of investment Victoria Schorer wrote in a note that the Bank of England is expected to suspend interest rates after Bank of England Governor Andrew Bailey suggested rates were nearing a peak. said the pound was declining against the dollar. The dollar rose against the pound, she said, after better-than-expected U.S. services Purchasing...
Gold ended Wednesday with a decline, driven by a surge in the dollar and bond yields following the release of another economic report surpassing expectations. The December delivery of gold closed down by $8.40, settling at $1,944.20 per ounce. This dip occurred as both the dollar and bond yields experienced an uptick after the August ISM Services Purchasing...
Perth Mint reported that its gold and silver product sales in August hit their lowest point since February 2020. This decline was attributed to a persistently weak demand for these precious metals, influenced by a stronger U.S. dollar and elevated yields. During the past month, the sales of gold coins and minted bars amounted to 34,875 ounces, marking a decrease...
Gold remained stable in Asian trading following its recent drop, which was driven by a resumption of the bond market selloff. The relationship between bond yields and both bond and gold prices is inversely correlated. According to Edward Moya, a senior market analyst at Oanda, there is potential for gold to benefit in the long term, particularly when the dollar,...
Gold prices experienced a nearly 0.7 percent decline on Monday, marking their worst 24-hour performance in over a month. As a response, retail traders reduced their bearish positions. This shift in sentiment is evident when examining IG Client Sentiment (IGCS), which often serves as a contrarian indicator. Given these developments, it raises the question of...
Gold is experiencing a decline during the early Asian trading session. Despite its recent fluctuations, the precious metal remains below the $1,950 mark, as noted by Craig Erlam, a senior market analyst at Oanda. Following the release of the U.S. jobs report, gold briefly attempted to surpass this threshold but ultimately fell short. Erlam suggests that a...
**Key Highlights:** - Spot gold retreated from its one-month peak reached on Friday. - Investors are closely monitoring speeches by Federal Reserve officials for potential interest rate signals. - NAB anticipates gold prices to trend upwards, targeting an average of $1,968 per ounce in the fourth quarter of 2023. Gold prices saw a slight decline on Tuesday as...